The New York Herald Newspaper, August 26, 1859, Page 4

4 —_— JAMES GORDON BENNETT, EDITOR AND PROPRIETOR. OFFICE N. W. CORNEB OF FULTON AND NASSAU STS. YORK HERALD. TERMS, cash in adoance. Money sent by mail will be at the risk of the sender. Postage stamps not received as subscription “file DAILY HERALD. too conta per copy, 81 per anrum THE WEEKLY HERALD, every Saturday, at six cents or $3 per annum; the European Edition every Weduesday af rz canta per copy, $4 ner annum to any part of Great Brikainy or Bb to any part of the Continent, both to include postage: H Gatfornia kdttion ov the 8th and 30h ‘of each month at she cents oF $180 per annum. Ppa eAaiby Wen ALD on Wedueeday, at four cents per or anit, Pe f eR taining impertant yell CORKESPONDENCE. co Haining imper mt mews, yi te ( the world; ¥ Moerally paid’ for" ‘sgeoun Fonxics CORRES ONDENTS ARM PARTICULARLY WEQUESTED TO BEAL ggi LBTTEUS AXD Pace: GES SENT US. INO NOTICE taken of anonymous correspondence, We dono return rejected communications 3 ren day; advertisements in- ADVERTISEMENTS renciced cory day; advertsoments tn. certed in the WEEKLY Eee, FAY rRietan Beltona CaM INTING cxecuted touh neatnces, cheapness and de- epatch. Volume XXIV ..cccsesssessessssenseeeee Me 996 OO —————————— AMUSEMENMS THIS EVENING, NIBLO'S GABDEN, Broadway.—La Fets Cuaretne— Paina Doxs4—Bianco, BOWERY THEATRE. Rowery.—Kprry Pevoryar—Itat- 14 Baicanns~ Luceetia Boruta—Pappy Carsy. WALLACK’'S THEATRE, Brosdway.—Gxn.toore, ATIONAL fBRATRE, aren. —My Nueon- sane Wie—Bomto asp Juuier—Yoururc, Baianp— Bick or tax Woors. RNUM’S AMERICAN MUSEUM, Broadway.—Afters eaanewas Corracr—Four Lovaas. Bvening—MULarEsn oF Torxpo—Four Lovess. WOOD'S MINSTREL BUILDING, 561 and 663 Broadway— Grmrcrim Gongs, Danoxs, 40. —Dawon anv Prraias. BRYANT'S MINSTRELE, Mechanics’ Hall, 472 Broadway— a BoxGs, Dances, &0.—1 ain't Gor Time tO “ABRY. New York, Friday, August 26, 1859. The News. We have three days later news from Europe, re- ceived by the America, which arrived at Halifax yesterday. The advices are to the 13th inst., and are in some respects important. The proceedings of the Zurich Conference had been strictly secret; but from the fact that the Sar- dinian representatives absented themselves from several of the sessions, it may be inferred that the conferences were not altogether harmonious. Jt was reported in Vienna that the red republi- cans in the Duchy of Parma had proclaimed a revo- lution, driven out the Piedmontese, and that the friends of order were fleeing in every direction. This may be true, but some allowance must be made in consideration of the medium through which the intelligence is derived. There is a report to the effect that a collision had occurred between Prussian and Austrian soldiers at Frankfort. A Russian loan of £14,000,000 sterling, and an Indian loan of £5,000,000, had been introduced in the London market. Consols on the 12th were quoted at 95a 95} for money, and 95} a 954 for account—a slight decline. The money market was without change. At Liverpocl the cotton market had been dull, at a decline of one-sixteenth of a penny on all quali- ties, but on the 12th closed steady, with sales of 7,000 bales. There is no change to notice in the breadstaffs market. By an arrival at New Orleans we have accounts from Minatitlan to ‘he 4th inst. On the Isthmus everything was quiet, although some apprehen” sions were being felt at the report of another in- tended invasion by the bandit Cobos. The rains had been very heavy on the Gulf slope, and much sickness was prevailing at Minatitlan. Accounts from Galveston to the 16th instant state that the large majorities already reported for General Houston leave the election for Goveraor no longer indoubt. Out of one hundred counties from which returns had come to hand, Houston had majorities in seventy-nine and Runnels in twenty- one. Clark was still believed to have been elected Lieutenant, Governor, and White Commissioner of the Land Office; but the returns for these were far less complete than those for Governor. Hamil- ton seems certainly to have been elected to Con- gress, though many counties are not reported. We publish in another column some interesting acts relative to the opening of streets in the city of Brooklyn. The openings now under contract exceed in amount the sum of $580,000. In another column may be found the names of the republican delegates chosen on Wednesday evening in this city to the District Conventions, which are to appoint delegates to the Republican State Nominating Convention to be held at Syra- cuse on the 7th of next month. The Wisconsin Democratic State Convention met yesterday at Madison, and nominated H. C. Hobart for Governor and A. 8. Palmer for Lieutenant Go- yernor. Quite a demonstration came off last evening in Hudson City, at the residence of General E.R. V, Wright, the recently nominated candidate of the democracy for Governor of New Jersey. Quite a number of distinguished politicians were presen. A display of fireworks, toasts, speeches, &c., gave spirit to the affair, and all passed off admirably. The attention of the mercantile community is now anxiously directed towards the movements in breadstufts, as upon these important products de- pends in a great degree the future prosperity of the country. We therefore publish in to-day’s paper accounts of the movements of breadstuffs at the principal grain receiving and shipping ports of the West, showing the course of trade in these arti- cles; and we shall continue to furnish our readers with all the information upon this subject which may transpire. The sales of cotton yesterday embraced about 829* 990 bales, closing dull at quotations given in another column Flour was again in good demand and active, and closed in fome cases at 5c. a 10c. per barrel higher. The receipts ‘were comparatively light, while the stock in store was ro- duced. Southern flour was algo firmer and in good de- mand, Wheat was in light supply so far as prime new grades were concerned, which were in good milling ds- mand, Among the sales was a small lot of Kentucky white at $1 60, and new Southern red at $1 26a $1 28, and fair white do. at $1 40a $1 43. Corn was scarce and firm, with a good Eastern and local demand; old mixed, in store, sold at 80c., new do. afloat at 82c. a 83c » and good yellow at 86c. Pork was heavy and lower, with sales of new mess at $14 37}, a $14 76, and prime at $10 128 $10 25. Beof was steady and lard firm. Sugars were steady, with sales of about 900 = 1,000 hhds, and 1,296 boxes, on terms given in another place. Coffee was called 3¢c. per Ib. better, with sales of 1,500 bags Rio and 200 do, Maracaibo on terms given elsewhere, Freights were firm, but engagements light. 1,060 bales cotton were taken for Liverpool at 7.32d.a %<d., and cheese by steamer at 40s. Tue Yacut Cros Excommontoatep.—The New York Observer, in a lengthy article, which we Print in another part of this paper, fulminates the wrath of the unco pious against the gentle- men of the New York Yacht Club who continued their recent cruise on Sunday, instead of lying at anchor, as the Observer thinks they should have done. The Observer's nerves seem to have been especially shattered by the “booming of the cannon” with which the yachts were saluted from the shores of staid New London. Some of the other religious presses have joined in the same hue-and-cry, and all lay great stress on the fact that the cruise was minutely described in the daily papers. I¢ was no harm, it appears, to sail on Sunday—the mischief was all in the pub- lication of the circumstance. To people who are not so acute at smelling out sin as the editors of these godly prints, it would ap- prar that there was very little difference be- ! tween sailing on Sunday and lying at anchor; but we presume that before a great while we shall have the religious papers advocating the stopping of ocean steamers and all sea-going vessels on the Sabbath. Why not restore the | Jewish dispensation in all its severity at once? What would the parsons say to cold mutton for | their Sunday dinner? When they are journeying in Europe no travellers indu'ge more freely in Sabbath enjoyments than they; but that is proba- bly to see the folly of it, and warn their flocks against the rocks of perdition which the shepherd hos discovered by actual experience. ‘The Coming Elections in the Central Btates— Their Influence on the Presidential Elec- tion. The fall elections in th> Central States, parti_ cularly New York, New Jersey and Pennsylva, nia, are of the highest political importance, not intrinsically, but for their bearing on the Presi- dential election of next year, both as indicating what way those States are likely to vote in the struggle of 1860, and as influencing other States © follow their example. There cannot be the shadow of a doubt that in 1856 Mr. Buchanan owed his euccees to the State election of Penn- sylvania which came off before the Presidential contest, and decided beforehand the question as to that State, thus influencing other States which desired to be on the winning side. In order to show the reader how very narrowly the democracy won the battle of 1856, we subjoin the electoral vote in that election:— a et at ty $5; Oblo, 23; Masrachusctts, 13; Maino, 8; ont, 6; New Hampshire, 5; Connecti- cut, 6; Rhode Island, 4; Michigan, 6; Wisconsin; 5; Iowa, 4.—Total, 114 votes. r BucHaNay.—Pennsylvania, 13; Iuinois, 11; Missouri, 9; Delaware, 3: Virginia, tucky, 12; Tencesseo, 13: Georgia, 10; North Garo 10; South Carolina, 8;'Alabame, 9; Mississtppi, 7; Louisiana, 6; Florida, 3; Texas; 4; Arkansas, 4; Califor- pis, 4—oial, 174 votes. Pennsylvania was only won by a very close shave, and would have been lost but for the bad management of the opposition and some of their leaders having been bought by money sent on frem New York. Now, if we take away the vote of Pennsylvania from Mr. Buchanan, there is only 147 left, two short of a majority of the whole vote, which is neceseary for a choice, and the election would have been thrown into the House of Representatives. Fremont only wanted thirty-five votes to elect him. Give him Penn- sylvania, and Indiana or Illinois, both of which were considered doubtful, and he would have heen elected. The gain of Pennsylvania and New Jersey would have given him 148 votes, or within one of his election. These facts and figures, therefore, show how nearly were the democracy beaten in 1856. The new States since admitted, or likely to be ad- mitted before the next election, will not certainly improve the prospects of the democracy. Minne- sota will have 4 votes, Oregon 3, and Kansas, if admitted, 3—in all, 10 additional votes. The whole vote would thus be 306, of which 154 is necessary to a choice. Even with this increased vote, the vote of New York is between one- fourth and one-fifth of the majority, and Penn- eylvania constitutes upwards of one-sixth, showing the importance of those two States in every Presidential election. Had the democrats lost Pennsylvania in 1856, they would have lost the election. Are they in as good a position now as they were then? Have they any stronger security or any better prospects for success in 1860? We think not. Their prospects at the present time are de- cidedly worse, and the chances of the opposition are decidedly improved if they will only skill- fully unite all their elements for a combined as- sault. The democracy is split and divided in New York and other States—it is demoralized in all. If it loges the State of New York, with its thir- ty-five votes, or if it loces Pennsylvania, and with it New Jerscy, or Illinois, or Indiana, Wil- liam H. Seward will undoubtedly take possession of the White House on the 4th of March, 1861 and sway the destinies of the United States for the next four years, if not for eight, and for the rest of his life. There is only one thing likely to prevent such a result, and that is that Mr. Seward, in his Rochester speech, having declared it to be his settled policy to divide the North from the South, or to compel the South to change its institutions, by force of arms if not otherwise, the Southern States may accept the election of Mr. Seward as the determination of the North to enforce that policy, and they may recede ina body from our confederacy, and erect a new Southern confederacy of their own; and there would be no alternative left the ruined North but a bloody civil war, the end of which no man could foresee. In that event Seward would only be President of the Northern half of the Union, if, indeed, the sober second thought of the Northern people, indignant at the ruin he had created, would not drive him from the White House, and seek a chief magistrate of wiser and more conservative counsels. Some of the followers and organs of Seward may explain that it is only by constitutional means their leader intends to deprive the South of its insti. tutions. But that makes not the slightest differ- ence to the South; and it would, perhaps, prefer a solution by war rather than by the action of a tyrant majority in Congress, The fall elections in New York, New Jersey and Pennsylvania are therefore evidently of great political importance, involving perhaps the very fate of the Union. Certain it is that even by a peaceable eecession of the Southern States—if that were poseible—New York, New Jersey and Pennsylvania would be thrown back half a century, and the property in those States would be depreciated fifty per cent. Their present commercial connection with the Southern States by railroad, by steamboat, and by other descriptions of shipping, is one of the great sources of their wealth and prosperity. By the feverance of the Union, the Southern commerce, which now enriches those States and the North generally, would go to England, our rival; and the Northern States, cut off from the staples of the South, would be utterly prostrated, and be come, instead of the members of a powerful con federacy, a feeble and impoverished fraction of a country, to be regarded as of no importance among the nations of Europe and of the world The question to be decided, therefore, indirectly at the fall elections in these States, is one not only of pride and principle, but of the commercial, manufacturing and agricultural interests. There is only one chance of escape from the impending calamity, andthat ‘is that the people of these Stated will merge all their minor disputes and dif- ferences’'in a common union againet Wm. H. Sew- ard, his policy and his party, in the fall clec tions; and should they be successful, the ¢cla of the victory will keep them united for the strug- gle in 1860, and a tide of popular enthusiasm will bear into port the triumphant ship of the constitution, and leave the traitor bark of Sew- ard high and dry as ever was wreck stranded on the beach of fn Bool 21; New Jersey, 7; In- Party Statistics Run Mad=Munchausen Lying with Figures. The following precious jumble of falschocd and nonsense appeared in the Evening Journal of the 22d instant:— “THE IMPENDING CRISIS OF THE SOUTH.” the census o 1850, it that the Sates whlch are extinal ral products of tbe free say ie ,04L | amounted to, bushels, oe 490,11 In the slave states, to,..... 481,766,889 Balance in favor of the free States. oo 17,423,162 Total valuo of these articles in the free States. $351,709,703 In the BIaVe States... secesseseeeee 306,027, Difference in favor of the free States, The cotton, tobs gar crop Difference over all these in favor of alone. $3,533,275 OF eres pound, inchoate bap ba ih it inolua! oat nteple of the Soute, States to, pouncs, In the slave States aienighty inscribed Gan eben of living ‘ight Sera Northern hy og nl their aid in extending th scurse! To ventilate this gas bag of the Journal’s we shall proceed to prick it with a few plain facts. Ite figures are 80 loosely stated and so wilfally manufactured from the whole cloth that it is like striking at a phantom to reply to it at all. It eeta out by saying that the products in bushels, by the census of 1850, amounted on the part of the free States to 499,190,041, while the slave States produced 481,766,889, showing balance against the latter of 17,423,152 bush- els—of what? We suppose cereals and potatoes are meant. Assuming this to be the case, on turning to the official compendium report of the census of 1850, we find that the relative popula- tion of the two sections stood as follows:— POPULATION OF THE UNITED STATES IN 1850. States... tee sae ++18,833,618 222, ait 9,428,751 Difference in favor of free States............ 8,904,767 PRODUCTS OF THE UNITED STATES BY THE CENSUS oF 1850. Slaves States. Free States, 61. 405,347 8,587,565 44,847,520 69,218,524 104,066,044 45,459,232 Ps Sc Cp a Total... 474,191,725 497,330,336 971,522,061 $504,340.576 By comparing the relative amount of bushels supplied by each section, it must be borne in mind that the white population of the Southern States was only about half that of the free States, and that, with the whites and slaves combined, it was over 25 per cent less than that of the free States. To make the comparison equal with the population of each section, the whites at the South, with their capital invested in negroes, lands, &e., produced 474,191,725 bushels; the whites of the free States, with their capital invested in farming, should have produced double that amount, or 948,383,450 bushels. If the whites and blacks were counted together, the excess of the free States over the yield of the South should have been at least 25 per cent greater, or 118,538,355 in excess of the South, while the Journal’s figures show that it was only 17,423,152 bushels, and by our figures only 23,138,611. Thus showing conclusively, by either class of figures, that, population considered, the slave States actually produced more bushels than the free States. Yet the Journal, with most plau- sible ingenuity, strikes its balance against the South, and in favor of the free States, just as though the populations of each section were equal. It will be perceived by the census of 1850, though not generally supposed to be the fact, that the slave States produced more Indian corn than the free. We come next to the long talked of and boast- ed hay crop, which the Journal says amounted in the free States in 1850 to $142,138,998. To show how grossly it has misrepresented the facts, it is only necessary to turn to the census of 1850, where the following table can be verified:— CROP OF HAY BY THE CENSUS OF 1850. 1,137,784 tons. 2,700,868 «* -18,838,643 tons, + $96,870,494 From the $96,870,494, at least one-twelfth should be subtracted as the produce of the South, which would amount to $8,072,541, and which would leave the value of the hay crop of the free States at $88,797,950. By subtracting this amount from the Journal’s statement of $142,138,998, as the value of the hay crop of the free States, it will make a difference of $53,341,048, It further says that “the cotton, tobacco, rice, hay, hemp and sugar crop of the slave States in 1850 only amounted to $138,605,723, making a difference in favor of hay alone of $3,533,275.” The census {tables of 1850 give the following a and values of the articles referred Cotton, bales... Tobacco, pounas, Rice... Difference in favor of Southern products over the crop of hay in the free States......... $58,487,277 If Southern naval stores were embraced for the same year, the differefice would be still greater, We thus see, that instead of the Southern products referred to being in the aggregate $3,533,275 belew the crop of hay in the free States, that they were actually $53,487,277 in excess of it. The Journal’s comparison of 28,878,064,902 pounds in the free States (of what?) with 4,338,370,661 pounds in the slave States, from which it educes a balance against the South of 24,539,694,241 pounds, is sheer nonsense and be- neath notice. ‘We thus see that the fanatic jumps to conclu- sions from figures manufactured to suit his own purposes—that of trying to show that the slave States are inferior to the free, and that “slavery is acuree.” After all, the prosperity and pro gress of a country chiefly depend upon the value of its exports. If the thirteen millions tons of hay were consumed at home, or only given in exchange for other domestic products, we do not perceive how it would materially add to the wealth or pecuniary resources of the country, When we come to try the exportable values of the produce of the respective sections, keeping in mind the relative population of each, we shall find that the Southern far outetrip the free States, and prove that if slavery is “a curse,” that Northern merchants, farmers, manufacturers and _— have largely and frecly benefitted NEW YORK HERALD, FRIDAY, AUGUST 26, 1859. We proceed to give a table of the amount and value of Southern or slave producta for the year ending June 30, 1851, which embraces the crops grown in the census year of 1850:— EXPORTS. ve Cotton, Ibs. 987,287 08 9112,316,517 Tovacco, 277}236,358 9,219,251 Hem - 29,170 Naval stor 1,110,101 1,068,842 Rice, terces. 1105690 21170,727 Total ‘lave States ees suse sone 18184 108 247 ‘Total rom United States, free and sin 196,689,718 ‘Total free States... seeseseeeee sees 961,901,471 We thus find that of the whole amount of foreign exports sent abroad for the fiscal year ending June 30, 1851, the slave States, with only about half the white population, and less than three-fourths of the population ef the free States—whites and blacks included—sent out $134,798,247 worth of products, while all the other States only exported $61,891,471. If the exports of Southern flour to tropical and other ports, with pine and live oak lumber, timber staves, &c., had been included, the amount of Southern exports would have been still further increased. So much for humbug and fanaticiem Since 1850, the Southern States have made rapid strides in agricultural progress, and the next census will prove it. They produced the past year over 3,750,000 bales of cotton. This amount, at an average 0 $50 per bale, amounts to the sum o $187,500,000. Of this, the American manu- facturers have taken over 750,000 bales, of the value of about $37,500,000, and Europe has taken about 3,000,000 bales, valued at $150,- 000,000. If to this export of $150,000,000 in cotton, we add the exports of the fiscal year ending June 30, 1859, at the same figures they stood at in the official report made up to the same time last year, though they probably have been nearly twenty-five per cent larger, we shall find that the exportable value of Southern products will stand as follows:— Cotton, bales, to Sept. 1, 1859....3,000,000 $5160,000,000 Tobacco, bhda., to June's, 1868.. "121 070 — is « 49,263 ie bee + Sieve} 1,864,780 Total VAlUO.,...sscecseeceeccsseeesees «8169 496 867 The census of 1860 will no doubt show that the great progress made in the Southern States since 1850 has been of a most extraordinary character, and will throw all the absurd theories of the Journal regarding the value of the hay and other crops still further into the shade, Opp Movemmnts For THE MaYoraLTY—Fresu Nomrvations.—The question of who shall be the next Mayor of New York appears to be substi- tating itself, in the public mind, for the excite- ment produced by the Donnelly letter, the anni- hilation of poor Wise, and the terrible recoil sustained by the Albany Regency. We insert elsewhere to-day a couple of articles from one of our cotemporaries, the Zribune, nominating the proprietor of this journal, Mr. Bennett, for the office of Mayor. We are not authorized to state what the exact response of Mr. Bennett will be whenever a personal application may be made to him on that point; but this much we may state, that the party that nominates him will have to elect bim at its own expense, as we know that Mr. Bennett would not bleed to the extent of five dollars for an election to any office in the giftof the people. On those condi- tions we have no doubt he would accept the position; and we are convinced that he would conduct the municipal affairs of this city in a manner very unlike that to which our citizens have been accustomed for some years past. Our cotemporary, in nominating Mr. Bennett, argues his case and sustains his pretensions as a ournalist with such an unction as almost to make us believe that he is arguing his own case, and that either Horace Greeley or one of his principal associates would have no objection to be a candidate for the same position. It puta Mr. Bennett up as being entitled to the powerful democratic influence of Tammany Hall and the Pewter Mug on account of the ser- vices which he has heretofore rendered to that party by his good counsels, and his indepen- dent thought and action in his career of over a quarter of a century. Now, on these very same grounds, the proprietor of the Heratp is as much entitled to be the candidate of the repub- licans, Dring the last quarter of a century the Heraxp, while it aided the democratic party and democratic administrations when they were in the right, always took particular care to assist in the demolition of the same party and administra. tions when they were in the wrong. The Hz- RALD advocated the election of Gen. Harrison, Gen. Taylor and Colonel Fremont, as being so many doses of good medicine to relieve the sick condition aud unsound constitution of the demo- cracy. It eucceeded in the cases of Harrison and Taylor, and made a perfect cure, and would have also eucceeded in the case of Fremont but for the treachery of Weed and Seward and their clique in the State of Pennsylvania and eleewhere. The election of Fremont was advocated by the HERALD not on anti-slavery grounds, but because the candidate was a Southern man, who would do justice to the South and to the whole Union. Mr. Bennett is therefore a good candidate for both parties when they are in the right, buta bad one for either of them when they are in the wrong, and when they are treacherous and cor’ rupt. The Herp nominated Mr. Greeley for Governor last year, and we think him still in the field. If he or one of his associates wants to be Mayor let them have a fair chance for the office: But one condition we hope they will put into their programme, and that is, never to paya single dollar to the hungry politicians, either for the nomination or the election. Let these fel- lows and their conventions elect their candidates at their own expense. That principle, we think, will dispose of a good many of the nominations, Axyorner Brunpermnc Letter ox New York Porrtics.—Whenever a politician of a certain order in the South breaks down altogether, he flies for refuge to the editorial sanctum, and commences his career as a journalist, without the emallest qualification for the post. He always has attached to his concern some drunken loafer who hangs about the hotels and bar rooms of this city, consorts with Five Points blackguards, and retails trash which is called New York cor- respondence. It is from such sources that let- ters like that which we extract from the Mobile Register emanate. We print it to show what ut- ter stuff and nonsense these fellows send to their masters, It purports to give important political information from this city, and, as part of its news, states that the Wise-Donnelly letter was addressed to Mr. John C. Mather. In the very next column of the very same Register is printed in full the Wise letter with the Donnelly ad- dresa. The New York correspondent must have been in as much of a muddle aa the famous his- torian of the Mincio’s elbows, sa every one SRS knows ht. Mather had nothing to do with the letter in an.¥ Way. The Register itself is of no particular cons.*quence, even in its own locality. The editor is the Same person who was kicked out of the Mexican miasion by the President, and as a journalist the .?evisler man seems to be repeating the blunders which cut off his career as a diplomat. ‘i The letter is like many others which are sent from this city to different parts of the country to help along the swindle under which the Albany Regency hopes to send its own tools to the Charleston Convention, through appointment at Syracuse. But the honest portion of the demo- cracy must inaist upon a popular representation at Charleston by delegates selected in each Con- greseional district of the State. And if that me thod of selection is not adopted by the State Convention, then there should be a people’s dele- gation in opposition to the packed body selected in Albany and ready to be aold ina lump to the highest bidder. Power of the Money Centres in Europe and We learn by the America, which arrived at Halifax yesterday, that Russia had again come into the market for a loan of sixty millions, and England for an India loan of twenty-five millions of dollars. The United States and England, New York and London, through their industrial and commercial enterprise, have become the great money centres of America and Europe. Money constitutes the sinews of war, for without it war cannot be carried on; the money centres, there- fore, are the true arbiters of the question of peace or war in Europe and America. This great fact has been clearly proved by re- cent events in Europe. Public opinion there is divided as to the true system of raising the money necessary to carry on war. The old me- thod is to draw drafts upon posterity, and saddle future generations with the cost of present quar- rele, This was the system of George IIL, who in twenty years added twenty-five hundred millions of dollars to the debt Eogland now labors under. It is the system Louis Napoleon has pursued, and in the two wars he has made he has fastened upon the future generations of France a debt of three hundred millions of dollars. It is a capital system for arbitrary monarchs to pursue if there was no end to it. But there is an end, which is under the control of public opinion. In order to raise money by drafts on posterity, present purchasers for these must be found. And therein lies the control of public opinion, and not only of that, but of public opinion at the great money centres, This was felt by Austria when, before the breaking out of the late hostili- ties, she asked for thirty millions of dollars from the London bankers. When it was refused she resorted to forced loans at home, the issue of ir- redeemable paper, and sundry other subterfuges, none of which succeeded in giving her the money. Sardinia tried the borrowing plan in Paris, and failed too, for no one would take her drafts on future generations of Sardinians. Russia, Prus- sia, Bavaria and Wurtemburg all tried the bor- rowing plan, and all failed. They failed because the London bankers would not buy their drafts upon parties who could not be consulted in re- gard to the acceptance and payment of them. Seeing this failure of the old method of raising money, and feeling severely the burthen of the debts of .their ancestors, the English people have come to the conclusion that money for present purposes, whether they be war or peace, should be raised by mmediate impositioas upon the present ge- neration. The more this doctrine prevails in the public mind of England and the United States, the greater will be the power these free nations will exercise over the movements of kings and rulersin other parts of the world. None but eminently commercial nations can raise money by increased imposts in time of war. Louis Napoleon could not do it in France during his recent wars, and it is very doubtful if he could have again raised a large loan out of the hoard- ed savings of the people. The new method, which, discarding the drafts on future genera- tions, loans money to the governments to be repaid out of taxes immediately laid, is the one that now prevails in the world, and it makes the bankers of New York and London respectively the arbiters of the peace of America and Eu- Tope. The latter have had a much greater influence in stopping the Italian war than diplomatists and rulers have been willing to acknowledge. On the former depends now the re-establish- ment of order in Mexico, and the future peace of the Spanish-American republics. London, that has so long been the centre of Spanish-American finances, now recognises the necessity of the preponderance of the political in- fluence of the United States on this continent, and is at this moment looking to Wall street to utter its fiat in Mexican affairs. There is a vast field for financial intelligence to exercise its skill with great profit and small risk, and we shall no doubt soon see the fruits of their combinations: The Secretary of the Treasury for Mexico is al- ready in communication with them, and with the government, and Wall street will soon become the centre of operations in Spanish-American loans, backed by the powers at Washington, and the popular support which American enterprise is ready to give to the stability of government and order in those countries. Among the subjects that are already under ex- amination by our bankers, we may cite the fol- lowing:—A loan to Mexico, based on a banking privilege, and the entire reorganization of the finances and debt of Mexico; a negotiation with New Granada for the consolidation of her public debt and the extinction of her pros- pective claims on the Panama Railroad; a line of steamships under Peruvian interests, looking to the increase of our commerce with that coun- try and the ultimate control of the Peruvian guano trade; another combination between New York and Chilean capitalists, which will make this the centre of Chilean financial interests. All of these schemes present large margins to our Wall street bankers, and in time will be managed by them. They will exercise the same great influence in the affairs of the American republics that the London bankers exercise in the concerns of Europe, and carry to a still higher poiat the old adage, that Commerce is King. A Sexsmie Macisrrate—Heautn Berore Prunsry.—We find in one of the London jour- nals a report of a case where four boys were brought before the police magistrate for bathing in an exposed place. Ind of fining the offend- ing youths, and commitcing them in default of payment, as our Brooklyn police justices do every day, this sensible magistrate directed the boys to be discharged, remarking that bathing was an admirable and salutary practice; that swimming was @D accomplishment which should bq en- See couraged ; that there was something ridiculous in the prudery commonly manifested on this subject, and that if people were so very thin- skinned as to be shocked at the spectacle of per- sons bathing, they should select another place and time for their promenades. Contrast with this the action of our Solons wito fine and imprison men and boys for bathing iw the docks, and even for bathing on the beach at Gowanus and Bay Ridge, far from public tho- Toughfares, and the comparison will not be fa- vorable to the good sense of those who adminis- ter law here, So long as men and boys do not outrage decency they should be allowed to bathe wherever facilities offer; and, as the London ma- gistrate suggested, let the ultra-modest select some other time and place for their afternoon strolls. Nor need the latter trouble themselves, as the old maid at Brighton did, to ascertain by means of telescope or opera glass the sex of the bather. Douglas in the Field as a Magazine Writer. The following note, which we received yeater- day, heeds no preface:— Frawgun Square, Naw Yor, Tuvespar Moning, August 26,1860, f TO THE EDITOR OF 1HE HERALD. to just that not ® ‘without our written con tent. We ny obedient mocreaie ee *SuARPER & SROTaERS For the Wise-Donnelly letter the Albany Re- gency received twenty dollars—twenty pleces of silver. Judas Iecariot got, for the betrayal of his Master, thirty pieces of silver—ten more than the man that cheated Wise. Judas had kept the bag and cheated his employer during the whole period of his service, and, with the proceeds of his last treaeon, he bought a place and went there and hanged himself. So Messrs. Cassidy & Co., instinctively true to so appropriate an exam- ple, have hanged themeelves, as the self inflicted reward of the unparalleled meannesses, betrayals and political rascalities which they have perpe- trated upon the democratic party for over twen- ty years. Stephen A. Douglas has taken warning by the fate of those whom Judas and Cassidy imposed upon. He has been too sagacious to put either thirty or twenty pieces of silver into such hands for the purpose of slaughtering himself. He has not been fool enough to write a letter and allow the proceeds to go into other people’s pockets. Cautioned in time, he has taken care to get the money himeelf, and has sold his brains to the Harpers, just as any plebeian contributor to their magazine might have done. This is a laudable, an elevated example, to future political aspirants, to hedge a little, so that even ifdefeated for the Presidency they may gather up afew dollars for their paine. Messrs. Harper, having properly remunerated Mr. Douglas for his services, natu- rally look to a “generous public” for compensa- tion, and, that there may be no interference with their enterprise, have sent us the letter published above, signifying, in the usual form, that the effort of Mr. Douglas has been copy- righted, and tha‘ a transfer of it to our columns will be under the direst penalties of the law. We have glanced with curious interest at the ingenious novelty of this mode of speculation in politics invented by the Senator from Illinois, and we regret extremely that we are not able, with a good conecience, to praise his composition. “Maud Elbert’s Love Match,” which precedes it, is much more interesting, and the chapters of “The Virginians,” by which it is followed, con- tain quite as much sound logic. Mr. Douglas opens his piece by identifying the whole republican party of the United States with William H. Seward; and, with the latter as his mouthpiece, just sufficiently caricatures its platform to make the result of his labor a man of etraw, which it must have appeared rather farci- cal to himself to attempt the destruction of. He then passes on, with enough of flippancy, to an analysis of the democratic party, which he affects to divide, upon the slavery issue, into three cate- gories, viz: those who think as he does; those who adopt the ultra fire eating programme, and those via media speculative pro-slaveryites who look for salvation to the Judiciary. The views of the ad ministration, and of the masses of national demo- crats in all parts of the country who have en- dorsed Mr. Buchanan’s course, are not fairly stat- ed in either one of Senator Douglas’ divisions. The use of superlatives and exaggerated ‘wdjec- tives, in the second class of democrats which he enumerates, is intended to convey an erroneous idea on the subject, which might perhaps mis- lead eome superficial readers, but which will fail to accomplish the object of his article with those whose opinions are more maturely formed. Having “etated his case,” Mr. Douglas pro- ceeds to argue it. He has evidently intended to systematize and arrange, ina report of thirty- eight columns, the scattered materials contained in his speeches during the last sessions of Con- grees; but, as an inevitable result of wanting the excitement and applause of an admiring audi- ence, he has badly accomplished his task. He has told us what Congress can do, and what he bas made up his mind it cannot do; what the framers of the Constitution thought (or at least ought to have thought), and what he thinka about their thoughta; what history, garbled, can be made to prove; what taxes were imposed on niggers in Virginia in 1772, and what penal- ty was paid for their introduction into South Carolina in 1764; what New Hampshire, Rhode Island and Massachusetts thought about slavery under George III.; and so meanders down the stream of time until he comes to an alligator in Thomas Jefferson. Severalcolumns are devoted to the deglutition of this important element in democratic history, and to its presentation to the befogged reader in a by no means well digested shape. Then come sundry other Presidents, with a line or two from their voluminous writings, as embodying the thoughts and stateemanship of their lifetimes. No representation could be more unfair, unless it is the manner in which extracts from the speeches of Clay, Davis, Cass and others are made at the close ofthe document, The new contributor for Harper’s Monthly ends his composition with the dogmatical dic- tum: “The principle, under our political system, is that every distinct political community loyal to tle constitution and the Union ia entitled to all the rights privileges and immunities of self-government, in re spect 0 their local concerns and. internal policy, subject only fo the constitution of ths United States.” Wit'a such @ lame summing up.and conclusion we ‘san only express a trust that the draft upon the. pocket of the Messrs. Harper was not largely dispropor- tioned to the twenty and thirty picoes of silver paid to Judas and the Regency. It is not requi- site to analyze now the utter folly and absurdity of the naked proposition itself, It bears self- contradiction upon itsface. We would only call attention to the singular fact that the deduction has no reference whatever to the premises in Me Douglas’ argument, and that, uniformly incor.